The central banks of Singapore and Malaysia launched a cross-border payment link between the neighbouring countries on Friday, March 31.
The new system, called Nets-DuitNow QR, allows travelers to pay at stores by scanning a QR code.
Customers of 12 participating banks and e-wallet operators can make payments by scanning a unified QR code displayed at vendors.
The payment link also supports online cross-border e-commerce transactions, according to the Monetary Authority of Singapore.
Source: centralbanking.com
